Press Release

India Lead Acid Battery Market to Surpass $7 Billion by 2022

Growing automobile industry, continuous expansion of telecommunication infrastructure and booming IT industry to drive India lead acid battery market through 2022

According to a recently published TechSci Research report, India Lead Acid Battery Market By Type, By Application, Competition Forecast & Opportunities, 2012 – 2022, the market for lead acid battery in India is projected to cross $7 billion by 2022, fueled by growing automobile industry. Launch of ‘Automotive Mission Plan, 2016-2026’ is anticipated to augment the automobile production in the country in the coming years, which is expected to drive demand for lead acid batteries through 2022. In India, the two-wheeler production is anticipated to increase from 19 million in 2016 to 50 million by 2026. Moreover, increasing foreign direct investments are expected to boost the country’s automobile industry in coming years, thereby aiding India lead acid battery market during forecast period.

Browse 10 market data Tables and 26 Figures spread through 116 Pages and an in-depth TOC on "India Lead Acid Battery Market"

In a bid to promote the growth of clean energy sources, India has been investing heavily on the development of solar power projects. Under the National Solar Mission, the country aims to install 100GW of solar power projects by the end of 2022. In states such as Rajasthan, Gujarat, Andhra Pradesh, etc., huge investments are being made by public as well as private entities for setting-up solar power plants. The electricity generated by solar power plants needs to be stored before it is evacuated to power transmission lines. Lead acid batteries are used in solar power plants to store the electricity generated from these plants. The expansion of solar power capacity is expected to boost the demand for lead acid batteries in India during forecast period.

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Telecom industry is another major factor expected to aid India lead acid battery market during forecast period. Over the past few years, the telecom sector has experienced a major transformation. Growing penetration of internet in the country has transformed the voice-driven sector to data-driven sector. Introduction of 4G network has motivated telecom companies to expand their network of telecommunication towers across the country. As of FY16, the total base of telecom towers in the country was around 454,000 towers, and it is projected to reach 511,000 towers by 2020. Telecom towers are one of the largest users of lead acid batteries in India. Continuous expansion of telecommunication infrastructure in India is expected to aid the country’s lead acid battery market during forecast period.

“SLI lead acid battery dominated India lead acid battery market in 2016, and the segment is expected to maintain its dominance over the next five years as well. SLI lead acid batteries are primarily used in automobiles such as passenger vehicles, commercial vehicles, tractors, two-wheelers, etc. Some of the major players operating in India lead acid battery market are Exide Industries, Amara Raja Industries, Luminous Power Technologies Pvt. Ltd., HBL Power Systems Ltd., Okaya Power Pvt. Ltd., etc.” Said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Lead Acid Battery Market By Type, By Application, Competition Forecast & Opportunities, 2012 – 2022has evaluated the future growth potential of India lead acid battery market, and provided statistics and information on market structure, industry behaviour and trend. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyses emerging trends along with essential drivers, challenges and opportunities available in India lead acid battery market.

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